There was a depreciation-control remark by Finance Minister Kato, but the USD/JPY reaction was temporary.
【12/24Market Overview
During Tokyo time, USD/JPY rose to around 157.38 yen on the basis of the domestic real demand for dollar buying observed at the fixing.157.38Thereafter, with Finance Minister Katō's statements to curb the yen weakness, gains stalled. Along with declines in the Nikkei, it fell to156.88yen. In European session, after-hours U.S.1010-year bond yields rose, pushing USD/JPY back toward the157yen level.In New Yorktime, aided by a rise in U.S. stocks, USD/JPY moved up to157.37yen.
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